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Sep 11, 2013

Jobless rate dips, prompting more bets on earlier rate rises

LONDON (Reuters) – Britain’s unemployment rate dropped in July to its lowest since late last year, adding to speculation that the Bank of England may raise interest rates earlier than it has predicted.

The rate dipped to 7.7 percent in the three months ending in July from 7.8 percent previously, the Office for National Statistics said on Wednesday. That was its lowest since the September-November period in 2012.

Sep 11, 2013

Britain’s jobless rate dips, prompting more bets on earlier rate rises

LONDON (Reuters) – Britain’s unemployment rate dropped in July to its lowest since late last year, adding to speculation that the Bank of England may raise interest rates earlier than it has predicted.

The rate dipped to 7.7 percent in the three months ending in July from 7.8 percent previously, the Office for National Statistics said on Wednesday. That was its lowest since the September-November period in 2012.

Aug 23, 2013

Germany, Britain lead Europe’s nascent economic recovery

BERLIN/LONDON (Reuters) – Germany and Britain led growth among Europe’s heavyweight economies from April through June as both enjoyed their fastest rates of expansion in more than a year, data showed on Friday.

Although recession still haunts many of Europe’s major economies, like Italy, Spain and the Netherlands, analysts said the German and British data showed that at least two of the region’s major economic engines are moving into a higher gear.

Aug 23, 2013

Recovering UK economy shows broader, faster growth

LONDON (Reuters) – Britain’s economy grew faster than expected in the second quarter, benefiting from a broad-based pick-up in activity that looked to have put the country’s burgeoning recovery on a firmer footing.

Gross domestic product expanded 0.7 percent from the previous quarter, data from the Office for National Statistics showed on Friday, beating its initial estimate and economists’ forecasts and putting Britain’s growth rate on a par with European powerhouse Germany.

Aug 21, 2013

Bank of England’s Weale says more QE could still be needed – paper

LONDON (Reuters) – A smooth economic recovery is not yet assured and the Bank of England has not ruled out fresh stimulus measures, one of the central bank’s top policymakers said on Wednesday.

Martin Weale told the Telegraph newspaper he could “certainly envisage circumstances in which it would be sensible to undertake further asset purchases” in addition to the bank’s recent move to give forward guidance on interest rates.

Aug 21, 2013

Lower UK borrowing still in sight despite surprise July deficit

LONDON (Reuters) – Britain’s public finances showed an unexpected deficit in July, although a recovering economy means the government still looks likely to meet its goal of reducing borrowing this fiscal year.

Public borrowing on the government’s preferred measure, which excludes some of the effects of bank bailouts, swung to a deficit of 62 million pounds ($97 million) from a surplus of 823 million in July 2012, the Office for National Statistics said on Wednesday.

Aug 8, 2013

Bank of England ties rates to jobs, markets unconvinced

LONDON (Reuters) – The Bank of England broke with tradition on Wednesday, planning to keep interest rates at a record low until unemployment falls to 7 percent or below, which it said could take three years.

Its attempt to steer expectations about future rate moves and bolster a fledgling economic recovery underwhelmed many investors, who brought forward expectations for when rates would rise from 0.5 percent – the opposite of what the central bank was hoping for – although the move faded later in the day.

Aug 7, 2013

Bank of England looks forward to help UK recovery

LONDON, Aug 7 (Reuters) – The Bank of England overhauled its
policy strategy on Wednesday, saying it planned to keep interest
rates at a record low until unemployment falls to 7 percent or
below, something unlikely for another three years.

Barely a month after Canadian Mark Carney took over as
governor, the central bank said it would keep interest rates at
0.5 percent unless inflation threatened to get out of control or
there was a danger to financial stability.

Aug 7, 2013

BoE ties future rate rises to drop in unemployment

LONDON (Reuters) – The Bank of England plans to keep interest rates at a record low until unemployment falls to 7 percent – something unlikely for another three years – in a major new departure for British monetary policy.

Barely a month after Canadian Mark Carney took over from the long-serving Mervyn King as Bank governor, the central bank said on Wednesday that it would keep interest rates at 0.5 percent unless inflation threatened to get out of control or there was a danger to financial stability.

Aug 7, 2013

Bank of England ties future rate rises to drop in unemployment

LONDON (Reuters) – The Bank of England plans to keep interest rates at a record low until unemployment falls to 7 percent – something unlikely for another three years – in a major new departure for British monetary policy.

Barely a month after Canadian Mark Carney took over from the long-serving Mervyn King as BoE governor, the central bank said on Wednesday that it would keep interest rates at 0.5 percent unless inflation threatened to get out of control or there was a danger to financial stability.

    • About Olesya

      "Olesya Dmitracova joined Reuters as a graduate trainee. She has spent a year in the Reuters Moscow bureau covering general and political news in Russia and the CIS. Since 2007 she’s been based in London, first as an investment banking reporter and since 2009, covering humanitarian crises and corruption issues worldwide for AlertNet and TrustLaw websites run by the Thomson Reuters Foundation. Before joining Reuters, Olesya had worked for the BBC World Service and regional media in Britain."
      Joined Reuters:
      2005
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